Albion Crown VCT PLC Announces New Share Allotment
Albion Crown VCT PLC has initiated an important step in its investment growth strategy by allotting new ordinary shares for the ongoing tax year. This recent move allows the company to meet the growing demand among investors seeking shared opportunities. The latest share offerings are part of the wider Albion VCTs Prospectus Top Up Offers aimed at fundraising for the future development of the company.
Details of the New Share Offer
The recent allotment involves the release of new ordinary shares, each with a nominal value of 1 penny. These initiatives encourage current shareholders and new subscribers to participate, ensuring both groups can take part in the equity expansion. To sweeten the deal for investors, an early bird discount was included; existing shareholders are offered a 1% discount on issue costs while new subscribers receive a 0.5% discount on initial investments.
Allotment Applications and Pricing
Taken together, the company has garnered significant interest, receiving valid applications for 6,403,827 New Shares at an issue price of 31.81 pence per share for existing investors. Furthermore, new subscribers' requests have culminated in 1,500,881 New Shares priced at 31.97 pence per share, both within the discount period. Additionally, an approval for another 57,678,875 New Shares is set at an issue price of 32.14 pence per share, providing a broader avenue for investment without discount. Overall, the total proceeds from these share allotments are projected to reach around £20.4 million.
Admission and Trading Information
Albion Crown VCT PLC is not just aiming to raise funds but is also focused on maintaining a robust presence in the market. Application has been made to the Financial Conduct Authority to allow for the admission of 65,583,583 New Shares to the Official List, alongside a request for listing on the London Stock Exchange's trading platform. This move will align the new offerings with existing ordinary shares, contributing to a balanced approach for both new and current investors.
Expected Trading Dates
It is anticipated that the new shares will be officially admitted, and trading will likely begin on or around 26 March 2025. The timely execution of these trades and admissions is designed to keep the company's offerings fluid and accessible for interested investors. To date, across the Albion VCTs engaged in the Offers, a total of £63 million has been raised. The Offers are expected to be available until the closing date of 4 April 2025 unless filled sooner.
Total Voting Rights Information
In accordance with regulatory standards and transparency obligations, Albion Crown VCT PLC wants to keep its stakeholders informed about voting rights movements related to its capital. As of the last announcement, the total share capital of the company amounts to 408,419,100 ordinary shares, alongside 134,160,646 Ordinary C shares, each also valued at a nominal 1 penny. Furthermore, the company has retained 45,787,992 ordinary shares within its Treasury.
Voting Rights Calculations
The final tally of voting rights equates to 362,631,108 ordinary shares and 134,160,646 Ordinary C shares, collectively forming the base for existing shareholders and other interested parties to calculate their notification requirements in accordance with the FCA's Disclosure Guidance and Transparency Rules. This proactive approach shows the company's commitment to transparency and good governance in its operations.
Contact Information for Further Inquiries
For additional information regarding the new share offerings and other inquiries, investors and interested parties are encouraged to reach out to the dedicated team at Albion Capital Group LLP. The Operations Partner, Vikash Hansrani, serves as the primary contact, ensuring that all questions and concerns are addressed efficiently. Potential investors can reach out via phone for detailed discussions and assistance.
Frequently Asked Questions
What is the nominal value of the new ordinary shares issued by Albion Crown VCT PLC?
The new ordinary shares issued by Albion Crown VCT PLC have a nominal value of 1 penny each.
What discounts are available for existing and new shareholders?
Existing shareholders receive a 1% discount on issue costs, while new subscribers qualify for a 0.5% discount on their investments.
How much money has been raised across the Albion VCTs so far?
As of the latest announcement, approximately £63 million has been raised across the three Albion VCTs participating in the Offers.
What is the expected trading date for the new shares?
The new shares are expected to commence trading on or around 26 March 2025.
Who can I contact for more information regarding the share offerings?
For inquiries, investors can contact Vikash Hansrani at Albion Capital Group LLP, accessible via phone for detailed assistance.
